Thread regarding ConocoPhillips layoffs

The problem is our compensation system

The problem is our compensation system: we reward results rather than long-term value creation; we reward smooth talkers and great Power-Pointers rather than folks with insight; We skip Post-audits to identify root causes of failures and penalize liars. It’s what we do and don’t do.

Kudos @119sQNlG-4xqk !!! You told it like it is

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Post ID: @11dGWf4n

3 replies (most recent on top)

How have the multiple-hyped Deepwater discoveries worked for us? Niobrara? APLNG??

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Post ID: @11dGWf4n-4rsf

[email protected] misses the big picture here. Because the best liars get rewarded, they continually en masse percolate upwards, higher and higher. They spend wasted man-months on perfecting PowerPoint presentations exaggerating their glory, and each year get rewarded with promotions higher into management. The end result is “leadership” with massively inflated self-worth, zero perspective of cycles and history, and many fancy European accents. And zero common sense.

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Post ID: @11dGWf4n-4lzy

Saying we reward “results” is too simplistic. Lying BU’s/Managers set up targets that appear difficult, but are actually easily achievable. So the best liars get the highest rewards. The “rewarders” above them remain oblivious to this manipulation, or have reward bias to their friends.

Exploration is the best (worst) at this game, being rewarded for “80% of the time we know we will drill a dry hole, it’s expected value”, and rewarding resource capture vs historically post-audit-able value creation. How did all those deep water discoveries work out for us?

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Post ID: @11dGWf4n-1hmr

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